NEW DELHI: Indian cryptocurrency exchange WazirX has said that allegations levied by global crypto company Binance are false and misleading.

In a statement, Nischal Shetty-run WazieX said its users do not have to be concerned about Binance’s announcement.

“We have made arrangements to ensure that WazirX’s digital assets are stored in accordance with industry-leading standards. Users can continue to trade, deposit, and withdraw their funds as usual,” the company said.

Binance late last month sent WazirX an ultimatum demanding that the exchange remove what it referred to as a “false and misleading narrative” or stop utilising its crypto wallets by February 3.

However, Binance later said in a blog post that it was making an exception and inviting WazirX to “work out arrangements to withdraw any remaining assets in the relevant accounts.”

WazirX replied, saying it had begun the process of transferring assets to wallets, and expected the process to be completed “within the next few hours.”

WazirX now says the allegations made by Binance in their blog are false and unsubstantiated.

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